WASHINGTON, D.C.--As the U.S. economy heats up and successful companies consider expansion and new hiring, competition for reliable, experienced and skilled employees will grow more intense, labor market experts predict.

They caution small businesses against ignoring one source of potential employees: older Americans.

Older Americans

Millions of seniors who have retired or are approaching retirement from lengthy careers still need to work to maintain their families and lifestyles. Others crave the social interaction and sense of purpose employment delivers.

Peter Cappelli, professor of management and the director of the Center for Human Resources at the Wharton School of the University of Pennsylvania, said increased life expectancy and the maturing of the largest generation in American historyâ€”-the Baby Boomersâ€”- will account for increased numbers of older Americans in the workplace. Cappelli, the co-author of Managing The Older Worker, (Harvard Business Review Press, 2010) said todayâ€™s seniors are staying older longer.

â€œIf we think of old age as a period when people are no longer able to work, that group is shrinking,â€ he said. â€œTodayâ€™s seniors donâ€™t want to just sit around. They want to work and they have a lot to offer. This trend is not going away.â€

He said that small businesses should consider hiring seniors for a variety of reasons validated by research. â€œThey donâ€™t need much training. Business owners donâ€™t have to worry about their conscientiousness and theyâ€™re less likely to switch jobs,â€ he explained.

He said studies confirm that seniors score higher on reliability and interpersonal skills and experience lower rates of tardiness and absenteeism. And he said research dispels several myths: that seniors incur higher healthcare costs and are more prone to accidents. â€œBecause they are older, donâ€™t have babies anymore and have fewer dependents, they have lower healthcare costs. Besides, most are on Medicare.â€

And Cappelli said seniors also suffer fewer safety incidents because they are more careful.

â€œWe know anecdotally that turnover is lower among senior workers and that some jobs are performed better by people with experience,â€ Oâ€™Neill said. He pointed out that changing ergonomics in workplace and to accommodate older workers has shown increases in production.

â€œSomeone transitioning out working with new engineers and sharing knowledge can be very effective,â€ he said. Most companies donâ€™t think about all the knowledge walking out their doors. But they should.â€

Experience

Oâ€™Neill said that one of the benefits of older age is that people move into positions using crystalized versus fluid intelligence. â€œThatâ€™s code for experience,â€ he said.

He added that small businesses can benefit from hiring seniors in customer contact positions. â€œPeople donâ€™t get as angry at older people,â€ he said. â€œTheyâ€™re less likely to shoplift around them.â€ And in sectors like financial services, he pointed out, high wealth clients are more likely to trust someone with experience closer to their age.

Ken Rone, 65, a retired vice president of manufacturing who lives in Vancouver, Wash., said heâ€™s hired and worked with hundreds of older employees in his nearly 40 years in industry. Rone said a 2014 U.S. Bureau of Labor Statistics report found the median tenure of all U.S. employees is 4.6 years. He noted that employee tenure was generally higher among older workers than younger ones, with the median tenure of workers ages 55 to 64 (10.4 years) more than triple that of workers ages 25 to 34 years (3.0 years).

So senior workers are more likely to stay longer and not jump ship as quickly.

In addition, Rone noted that seniors have longer track records for prospective employers to review. He said itâ€™s easier to check references and the document trail for older employees is more robust. Small businesses can reference previous employers and contact more colleagues to gain a better view of senior employees in the interview process than their younger counterparts. And older employees know what it required to be a viable, stable employee.

He continued, â€œTheyâ€™ve seen the slackers and unreliable employees and understand what to avoid and how to succeed: Be neat, respectful, donâ€™t gossip, keep your nose to the ground and do the job.â€
Michael Sarka, 70, agreed. He is a retired small businessman and now a counselor in Santa Cruz, Calif., for the national nonprofit SCORE, which helps small business. Sarka works for a small business tourism attraction, the Roaring Camp Railroad, in nearby Felton. The railroad is a steam engine that takes tourists into the mountains and to the beach.

â€œWe find we have very good and reliable older employees who show up early, get the task done and exceed our employerâ€™s expectations.â€

Sarka, who grew up on a farm, said most seniors were raised with a strong work ethic. â€œI think thatâ€™s something that benefits our company and most of all, the consumer, because weâ€™ve lived in this community and are knowledgeable about whatâ€™ going on and are able to communicate that to the tourists who visit us.â€

He owned a small tourism consulting company with his wife and previously launched an outdoors adventure firm, hiring many seniors. He said older employees bring patience to their jobs. â€œThey take the time to listen and act on what theyâ€™ve heard,â€ he explained. â€œThat makes a strong connection to customers.â€

Ann Fishman, president of Generational Targeted Marketing, consults with companies on issues of aging. Fishman advised small business owners against calling older Americans â€œseniors.â€

â€œCall them experienced people. They like to think of themselves in the prime of lives,â€ Fishman said. â€œBaby Boomers in particular need the money. Many have not saved appropriately for retirement and some may have to work till the day they die. Though they may need the work, they appreciate flexibility. That gives them the freedom they want and some extra money.â€

A Mix

Fishman said many younger people have lost the ability to read facial and word cues. â€œTheyâ€™ve been looking at screens and not peopleâ€™sâ€™ faces,â€ she said. â€œBut Baby Boomers are really good at reading facial expressions and vocal cues. Theyâ€™re really good at listening. The best thing is when you can achieve a generational mix. Young people usually have stronger technology skills and Baby Boomers have strong people skills, crave social interaction and are very work-oriented.â€

Laura Bos, manager of education and outreach and financial security for the advocacy organization, AARP, said many AARP members are still working, want to work and may even need to work.
â€œSo they want to remain in the work force and we think they are a great asset for employers large and small,â€ Bos said. â€œOlder workers have a certain level of maturity, and especially with companies needing strong customer service, they tend to be ranked and valued highly. They bring professionalism and great work ethic and are often lauded for critical thinking and problem solving skills.â€

Bos said that older workers tend to have higher levels of engagementâ€”-emotional and intellectual involvement with their companyâ€”- and are motivated to do their best work.

â€œYou could say theyâ€™re more loyal and involved with their company and invested in wanting their company to do well, which can lead to less turnover,â€ she said. â€œAnd turnover costs employers money.â€

Mark Taylor wrote this article through a John J. Curley Journalism in Aging and Health Fellowship of the John A. Hartford Foundation, a project of New America Media and the Gerontological Society of America.”

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